ISEQ mixed morning trading

The Dublin ISEQ closed higher after mixed trading this morning, buoyed up by the construction and pharmaceutical sectors.

At 10.30am, the index was up 20.71 points at 4785.7.

In London the FTSE 100 was up 26.9 points to 4,314.5 after two days of losses last week. Banks led the rise on the index with HSBC up £0.20 to £9.05 after a major broker raised its price target on the company, citing growth in the group's Hong Kong interests.

In Dublin Irish construction group CRH was up €0.23 to €15.70. Building company McInerney Holdings saw its share price rise €0.11 to €4.15 and Cement group Readymix was up €0.05 to €1.90.

In the pharmaceutical sector gainers included Elan, up €0.15 to €4.40, and United Drug which saw its share price rise €0.03 to €2.26.

Shares in Abbey plc and Anglo both fell this morning, by €0.20 to €6.25 and 0.03 to €10.30, respectively.

Paddy Power was up €0.07 to €6.40 and Ryanair Holdings, who despite reporting a 16% rise in net profits today, saw its share price fall €0.05 to €7.25.

However, load factors on some routes have fallen and the company is considering scrapping a number of underperforming routes out of London and Scandinavia.